Workers in developed countries face strong wage cuts or wage stagnation because of globalism. Globalism has caused companies to not be able to compete as effectively, since they are on a worldwide scale. Local companies can’t offer higher salaries, because their products or services would become much more expensive compared to multinational corporations. When large corporations use economies of scale, and low wage labour and taxation in other countries, smaller businesses can’t raise wages. If they do, they’ll go out of business by not being able to compete with the multinational corporations’ prices. We also can’t disregard the fact of wages in the “new” manufacturing countries. Places like China, India, and Mexico. These places pay their employees pennies on the dollar. It’s hard for them to survive on it. Many work well over the regular 40-50-hour workweek the average American has.
My War on Globalism 6
